MECHANICS

  1. Promo period is from April 5, 2010 to June 30, 2010.

  2. Completely filled-out EastWest Bank Home Loan Application Forms received within the promo period and satisfying the criteria below will enable applicants to enjoy waived appraisal fees upon application :

    1. Loan amount applied for should not be lower than Php1.5Million.

    2. Real estate collateral must be located within Metro Manila, Rizal, Laguna Cavite, Metro Cebu and Metro Davao.

    3. Loan application submitted with the following minimum documentary requirements :

      1. For Employed Applicants :
        1. Photocopy of 2 government-issued identification cards (e.g. passport, driver’s license, etc.)
        2. Certificate of Employment & Compensation
        3. Latest Income Tax Return
        4. Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
        5. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan

      2. For Self-Employed Applicants :
        1. Photocopy of 2 government-issued identification cards (e.g. passport, driver’s license, etc.)
        2. Photocopy of current DTI/SEC Registration & Business Permits
        3. Bank Statement for the last 6 months
        4. Financial Statements (in-house & audited) for the last 2 years
        5. Income Tax Return for the last 2 years
        6. List of Customers & Suppliers (5 each) with contact numbers
        7. Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
        8. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan

      3. For Overseas Worker Applicants :
        1. Photocopy of 2 government-issued identification cards (e.g. passport, driver’s license, etc.)
        2. POEA-validated contract
        3. Proof of Remittance for the last 6 months
        4. Authenticated Certificate of Employment & Compensation
        5. Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
        6. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan

  3. All loan applications received will undergo the regular credit evaluation process, subject to existing Bank policies.
    All other EastWest Bank Home Loan terms and conditions apply.

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FREQUENTLY ASKED QUESTIONS (FAQs)

Q.    What is the Home Loan Free Appraisal Promo?
A.    EastWest Bank’s Home Loan Free Appraisal Promo is a program that entitles qualified home loan applicants to an automatic waiver of the Php3,000 Home Loan Appraisal Fee.

Q.    How can one qualify for the free appraisal?
A.    Home loan applicants must satisfy the criteria below to qualify for the free appraisal:
  1. Loan amount applied for is Php1.5Million and up
  2. Real estate collateral is located within Metro Manila, Rizal, Laguna, Cavite, Metro Cebu and Metro Davao
  3. Complete EastWest Bank (EWB) Home Loan application received by EWB from April 5 to June 30, 2010
Q.    What are the documentary requirements to apply for an EWB Home Loan?
A.    The following are the documents that must be completely submitted to EWB as part of the qualifying criteria for the free appraisal promo:

    For Employed Applicant / Applicant’s Spouse:
  1. Completely filled out EWB Home Loan Application Form
  2. Photocopy of 2 government-issued identification cards (IDs) e.g., passport, driver’s license, etc.*
  3. Certificate of Employment & Compensation (COEC)*
  4. Latest Income Tax Return (ITR)*
  5. Photocopy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
  6. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan
    For Self Employed Applicant / Applicant’s Spouse:
  1. Completely filled out EWB Home Loan Application Form
  2. Photocopy of 2 government-issued identification cards (IDs) e.g., passport, driver’s license, etc.*
  3. Photocopy of current DTI/SEC Registration and Business Permits*
  4. Bank Statements for the last 6 months*
  5. Financial Statements (in-house and audited) for the last 2 years*
  6. Income Tax Return (ITR) for the last 2 years*
    7. <>
  7. List of Customers & Suppliers (5 each) with contact numbers*
  8. Photocopy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
  9. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan
    For Overseas Worker Applicant / Applicant’s Spouse:
  1. Completely filled out EWB Home Loan Application Form
  2. Photocopy of 2 government-issued identification cards (IDs) e.g., passport, driver’s license, etc.*
  3. Employment contract*
  4. Proof of remittance for the last 3 months*
  5. Authenticated Certificate of Employment & Compensation (COEC)*
  6. Photocopy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property to be used as collateral for the loan
  7. Photocopy of the Lot Plan with Vicinity Map of the property to be used as collateral for the loan
    For married applicants:
    Spouses will also be required to submit documents (marked by an * above) upon application of their borrowing spouse.

Q.    Are all EastWest Bank Home Loan variants included in the free appraisal promo?
A.    Yes, all EWB Home Loan variants are included in the free appraisal promo. These are as follows:
  1. Lot Acquire – finances the purchase of a lot
  2. Home Acquire – finances the purchase of a house & lot, a townhouse or a condo unit
  3. Home Construct – finances the construction of your home on a lot that you own
  4. Home Improve – finances your home improvements/renovations
  5. Home Flex – finances your business or other personal consumption using your existing home as collateral
  6. Refinancing – lets you transfer your existing home loan with another institution to EWB


Q.    Is the 8% p.a. interest rate reflected on your ads valid for all home loans?
A.    No. Interest rates for applications received during the promo period will follow EastWest Bank’s Home Loan standard interest rate scheme, which varies depending on loan amount and Home Loan variant. The 8% p.a. rate is currently part of the standard rate offer of the Bank (as of March 29, 2010) as follows:

HOME ACQUIRE,LOT ACQUIRE & REFINANCING HOME CONSTRUCT HOME IMPROVE HOME FLEX
Loan Term PhP 500,000 up to Php1.50 MM Greater than PhP1.50 MM PhP 500,000 up to Php1.50 MM Greater than PhP1.50 MM PhP 500,000 up to Php1.50 MM Greater than PhP1.50 MM PhP500,000 up to PhP 5.00 MM
1 Yr 8.500% 8.000% 9.500% 9.000% 9.500% 9.000% 10.250%
2 Yrs 9.750% 9.250% 10.250% 9.750% 10.250% 9.750% 10.750%
3 Yrs 9.750% 9.250% 10.500% 10.000% 10.500% 10.000% 11.000%
4 Yrs 10.000% 9.500% 10.750% 10.250% 10.750% 10.250% 11.250%
5 Yrs 10.250% 9.750% 10.750% 10.250% 10.750% 10.250% 11.750%
6 Yrs 10.375% 9.875% 10.875% 10.375% 10.875% 10.375%  
7 Yrs 10.500% 10.000% 11.000% 10.500% 11.000% 10.500%  
8 Yrs 10.625% 10.125% 11.125% 10.625% 11.125% 10.625%  
9 Yrs 10.750% 10.250% 11.250% 10.750% 11.250% 10.750%  
10 Yrs 11.000% 10.500% 12.000% 11.500% 12.000% 11.500%  
11 Yrs 11.125% 10.625% 12.125% 11.625% 12.125% 11.625%  
12 Yrs 11.375% 10.875% 12.250% 11.750% 12.250% 11.750%  
13 Yrs 11.500% 11.000% 12.375% 11.875% 12.375% 11.875%  
14 Yrs 11.625% 11.125% 12.500% 12.000% 12.500% 12.000%  
15 Yrs 11.750% 11.250% 12.625% 12.125% 12.625% 12.125%  
16-20 Yrs   11.500%   12.250%   12.250%  
21-25 Yrs   11.500%   12.375%   12.375%  
26-30 Yrs   11.750%   12.500%   12.500%  
* Annual Repricing              


Q.    What are your available Home Loan terms?
A.    Our Home Loan terms vary by variant and loan amount. Shortest home loan term across all variants is one year. Maximum loan terms are as follows:

Home Loan Variant Php500K to Php1.5MM Greater than Php1.5MM
  1.    Lot Acquire 10 years 10 years
  2.    Home Acquire    
        a.    House & Lot 15 years 30 years
        b.    Townhouse 15 years 30 years
        c.    Condo Unit 15 years 20 years
  3.    Home Construct 15 years 30 years
  4.    Home Improve 15 years 30 years
  5.    Home Flex 5 years 5 years
  6.    Refinancing 15 years 15 years


Q.    Where can I submit my EWB Home Loan application documents?
A.    You can submit your EWB Home Loan documents at any EastWest Bank branch. You may also submit these directly to our EastWest Bank Home Loan Officers or through any of our accredited brokers/agents.

Q.    Will I be charged any other fee for my home loan application? If yes, what are these fees?
A.    Yes. When your EWB Home Loan is approved and you decide to book your loan with us, other EWB Home Loan fees pertinent to loan booking will be charged to your account. These are as follows:
  1. Processing Fee – P3,000
  2. Documentary Stamp Tax – P1.00 for every P200.00 loan amount
  3. Registration Fees – Payable to the Registry of Deeds (inclusive of Notarial and Facilitation Fees)
  4. Others – Cancellation of lien on the title if applicable. (e.g. Section 7 R.A. 26, Section 4 Rule 74 and existing mortgage with other banks

    Only the appraisal fee, which is charged upon loan application, is waived for the duration of the promo.

Q.    What number can I call for my questions/clarifications?
A.    You may call our hotline, 888-1700 (Domestic Toll Free: 1-866-828-6296). You may also get in touch with any EastWest Bank branch for your questions or clarifications.